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Loretta J. Mester

Former President and CEO, Federal Reserve Bank of Cleveland (2014-2024); Contributor, CNBC

For audiences looking to better understand how monetary policy and the state of the economy will affect their organization or institution, Dr. Loretta Mester’s expertise is both incomparable and invaluable. As the former President and CEO of the Federal Reserve Bank of Cleveland for an entire decade (2014-2024), Loretta Mester has a deep and rooted understanding of the intricacies of U.S. monetary system and policy.

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Dr. Mester’s varied accomplishments and wide breadth of knowledge enable her to enlighten audiences with either prepared remarks or as a participant in moderated conversation. 

Dr. Mester examines the current U.S. and global economic landscape and the key challenges facing policymakers and businesses today. Her remarks are informed by her extraordinary career, most recently as President and CEO of the Federal Reserve Bank of Cleveland, along with her extensive academic research on the financial system.

In her engaging presentations, Dr. Mester discusses federal policymaking from an insider’s perspective. She focuses on the factors that will likely shape the U.S. economic outlook through the balance of this year and into the next, along with their associated risks. She also details some of the structural issues that will determine how the economy may fare over time, including demographic trends, technological change, and productivity growth.

For audiences looking to better understand how monetary policy and the state of the economy will affect their organization or institution, Dr. Loretta Mester’s expertise is both unmatched and invaluable.

Biography

Loretta Mester was president and chief executive officer of the Federal Reserve Bank of Cleveland from June 1, 2014 through June 30, 2024. In that role, she participated in the formulation of U.S. monetary policy and oversaw more than 1,000 employees based at the Bank’s Cleveland office and Branch offices in Cincinnati and Pittsburgh who were engaged in conducting economic research, supervising banking institutions, promoting community development, and providing payment services to depository institutions and the U.S. Treasury. Mester was the 11th president of the Cleveland Fed and represented the Fourth District on the Federal Open Market Committee (FOMC).

Mester began her career at the Federal Reserve Bank of Philadelphia in 1985 as an economist and was executive vice president and director of research at the Federal Reserve Bank of Philadelphia prior to her appointment as president and CEO of the Cleveland Fed.

Mester is an adjunct professor of finance at the Wharton School of the University of Pennsylvania. She has also taught in the undergraduate finance and M.B.A. programs at Wharton and in the Ph.D. program in finance at New York University.

Mester is a trustee of the Cleveland Clinic, a trustee of the Musical Arts Association (Cleveland Orchestra), a director of the Council for Economic Education, a founding director of the Financial Intermediation Research Society, a member of the senior council of the Central Bank Research Association (CEBRA), a member of the advisory board of the Financial Intermediation Network of European Studies (FINEST), a member of the advisory board of Haverford Trust Company, and an editor of the Journal of Financial Services Research. She is a member of the American Economic Association, the American Finance Association, the Econometric Society, and the Financial Management Association International.

Mester graduated summa cum laude with a Bachelor of Arts degree in mathematics and economics from Barnard College of Columbia University. She earned M.A. and Ph.D. degrees in economics from Princeton University, where she was a National Science Foundation Fellow.

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